Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Management Accounting:
Management accounting on the other hand tends to focus internally. Reports generated through management accounting processes will be used by the organisation's management to assist in planning and control.
Rather than focusing on the past (as is the case with financial accounting), management accounting attempts to take information from the past and projects it into the future. The primary management accounting report is the budget, and reports analysing actual results against budgeted targets.Management accounting uses historical data to assist in establishing financial objectives, and allows managers to make rational management decisions to achieve those objectives.
Management accounting reports usually provide great detail and cover much shorter periods of time (sometimes weekly). This allows managers to act quickly and decisively if required.
The major differences between financial and management accounting can be summarised as follows:
Financial Accounting
Management Accounting
Information for external users
General purpose
Long time periods (FY)
Reports on the past
Required by law
Subject to accounting standards
Focuses on objective data
Used primarily by internal users
Usually focused on specific purpose
Short periods (monthly, weekly)
Past and future
Not required by law
Not compelled to meet standards
Can utilise subjective data
What are financial crises in financial markets? Financial crises: Financial crises are described as major disruptions in financial markets which are characterised by shar
Explain Dual Currency Bond A dual currency bond is a straight fixed-rate bond that is issued in one currency and pays coupon interest in that similar currency. At maturity, th
solution to assignement
Q. Explain about Inventory Turnover Ratio ? Inventory Turnover Ratio: - Definite items of inventory are slow moving. It signifies that their consumption is quite slow and capit
The minimum value is the lower limit for the market value of a convertible bond. It is equal to the greater of the conversion value and the straight value. We can
Q. What do you mean by Misappropriation Of Fund? Misappropriation Of Funds allotted for specific works under capital or Revenue demand but the expenditure is incurred for anoth
364-Day T-Bills The Government considered that it is important to develop government securities market for monetary control. It also had an intention to ensure that government'
ne
Does high operating leverage always mean high business risk? Explain. High operating leverage does not all the time mean high business risk. If the companies sales are quite
A bond whose payments are made in foreign currency has unknown cash flows in domestic currency. This is because the cash flows are dependent on the exchange rate
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd